Investors’ confidence remains at high level in Antigua and Barbuda International Financial Sector

St. John’s, Antigua – On Wednesday 06 August 2008 , Mr. Lebrecht Hesse chairman of the Financial Services Regulatory Commission formally handed over a Class III licence to Aristdes Maza Tirado- Chairman and Edmund Jreige Kabchi Murgus -Deputy Chairman of CBA Bank and Trust Incorporation to conduct international banking and trust operations from the jurisdiction of Antigua and Barbuda.

This is the first IBC to be issued with a composite license to operate both international banking and trust operations and bring to 18 the number of licensed international banks in Antigua and Barbuda.

Mr. Tiradio was full of praise for the staff at the Financial Services Regulatory Commission who he said processed the application in a highly professional efficient and friendly manner. He said “my team is very proud to be the first IBC to be issued with a composite license and we will ensure that we maintain the very high standards for which Antigua and Barbuda is known, We are looking forward to working closely with the staff at the FSRC.”

Mr. Hesse congratulated Mr. Tirado and his team and welcome them to the jurisdiction of Antigua and Barbuda. He encouraged the new company to work closely with Mr. Paul A Ashe the Supervisor of International Banks and Trusts Corporation along with his team of examiners as this will ensure the company’s adherence to the local laws and regulations. Also on hand to welcome the new company was Mr. Trevor Mathurin acting Administrator and CEO of the FSRC

CBA bank and Trust Incorporated forms part of a fully diversified Venezuelan group of companies which includes Banco Caroni C. A., Banco Guayana C. A and Seguros Caroni C. A.